NTEC discontinues efforts to acquire Navajo Generating Station

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FARMINGTON, N.M. — Navajo Transitional Energy Company (NTEC) announced March 22 that it will no longer pursue the acquisition of Navajo Generating Station (NGS) and Kayenta Mine following a decision by the 24th Navajo Nation Council’s Naabik’iyati’ committee March 21.

Consistent with the Naabik’iyati’ Committee’s decision, NTEC released the following company statement:

Due to continued demand by the owners of the Navajo Generating Station (NGS) that the Navajo Nation provide an unlimited guarantee of any liability for the decommissioning of the plant, Navajo Transitional Energy Company is forced to cease its acquisition effort.

NTEC assessed this opportunity at the request, late last year, of the Navajo Nation’s 23rd Council.

We wish to thank the Navajo Nation leadership for requesting NTEC’s assessment of this important acquisition opportunity. We recognize the decision of the 24th Council to allow NGS and Kayenta to close at the end of this year. We also appreciate the considerable support NTEC has received from the Navajo community during this process.

NTEC was created to support and improve the economic, financial, tax, and revenue interests of the Navajo Nation and the Navajo people through management and development of the Navajo Nation's resources and new sources of energy, power, transmission, and attendant resources and facilities; to facilitate management of the Navajo Nation's interests in the development of its energy portfolio and market, and to limit the Navajo Nation's liability with respect thereto.”

For too long, outside corporations have plundered our land and harmed our environment. With the creation of NTEC, for the first time in history, a tribal entity exercised its sovereignty to regain control of their natural resources and exercised that authority to move forward on the guiding principles of protection of our tribal government, tribal members and environment over profit.

NTEC believes more tribes should work to maintain control of similar mineral and energy development opportunities where tribes can then institute similar standards and stewardship management over their land and resources.

Yesterday, the Nation again spoke through their constituent representatives who voted to end the operations of NGS and Kayenta by a vote of 11 to 9. Despite this vote, NTEC will continue to usher in a new era of conscious energy development for the Nation and pursue other opportunities that will benefit the people.

Finally, we need to acknowledge that hundreds of Navajo workers at NGS and Kayenta Mine face an uncertain future. Please visit our website for upcoming announcements of a job fair NTEC will host at Kayenta for job opportunities at Navajo Mine.

Regardless of the outcome of this issue, NTEC’s Management Committee re-affirms that NTEC will always work to protect the Navajo Nation and will continue to seek ways to utilize the Navajo Nation’s natural resources for the benefit of the Navajo people. In furtherance of its mandate, NTEC will look for ways to utilize the Navajo Nation’s resources for the benefit of the Navajo people.

Information provided by the Navajo Transitional Energy Co.

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